Why the Canadian Housing Market Is Soaring in the Pandemic

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Montreal Real Estate

Jenn's rantings...

I was just reading an article that was titled, “Why the Canadian Housing Market Is Soaring in the Pandemic”. With all its theoretical ideas, it failed to state that fact that, at least in Montreal anyways, has been in a seller’s market since April 2017. That when we first saw listings go down 25%. Meaning there were 25% less available product on the market from the previous year. Every single month since then, the listings (available properties for sale), have gone down 12-25%. It’s safe the say that nothing has changed due to the pandemic.

There are still the same amount of hungry buyers as there were before. April 2017, is when we started seeing the upward trend of extremely crowded first visits and multiple offers.Any real estate broker will tell you, that there are many, many buyers who still haven’t bought. With the interest rates so low, and due to the high demand, I see us continuing in this manner for a very long time.

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I am deeply committed creating a healthy home for you and your family…

The less toxins in our home, our environment, the more we thrive as balanced healthy people. Since 1992, I’ve been living a green lifestyle. Reading, learning, researching everything about being environmental. It’s a passion of mine. What does this mean? The benefit to you is I can help you buy, sell, renovate, and live more health conscious, from reducing the chemicals in your home, finding green resources, and sustainable products. Your life, greener.

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Raise your real estate IQ

A lot of people enter the real estate market without understanding all of the costs involved in a deal: a building inspection, land transfer tax, notary costs, adjustment costs at the signing, insurance, immediate renovation costs…

Last but not least on this list is the municipal tax — a major expense you’ll have to pay each year.

This expense will likely go up suddenly when you buy your property and it could be much more than you think.

How is your municipal tax rate assessed?

The municipal tax is based on your municipal evaluation. The city evaluates your home and land based on recent sales, renovations, and annual appreciation. City assessors may even visit the property to complete their evaluation. Your municipal taxes are based on their findings. Continue reading the article here.

March Market News

Don’t be fooled thinking the market is slowing down because home sales are at -7%. The reason is, is because there isn’t any product. Active listings are down -43%. Gone are the days of 2 or 3 multiple offers. We are now into 10-20+ offers. There are so many buyers now who haven’t bought. Are we in a bubble? Are we going to crash? I don’t think so. Not for a very long time. People are still working, immigrants have been stopped coming in, low interest rate, bank security, low housing starts, low product available and on an international scale, our prices are still considered low.

You can find previous updates here.

Real Estate Broker & Educator

Jennifer Lynn Walker has specialized in buying and selling both residential and multiplex properties since 2003. She’s built a strong network of specialist, to give her clients a seamless experience throughout the real estate journey. Founder of Montreal Real Estate Investor’s Group, and Jolly Green Homes.

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Montreal Real Estate · 121 Av. de Breslay · Pointe-Claire, Qc H9S 4M8 · Canada